1. You want to purchase the Tesla Model S after you graduate. The Model S currently retails for $69,200. Assuming you don't have a down payments, and decide to finance the car for 5 years at 5.24% APR (monthly compounding) a. What will your monthly payment be? b. If you decide to only finance it for 4 years, how much will your monthly payment be? 2. You graduated from college and decided to attend law school. If you go to law school, you will be forced to incur $180,000 in student loans. The re-payment of the student loans will take place over the next ten years after you graduate. The current rate on student loans is 6% ARP (with monthly compounding) a. How much in interest will you pay over the lifetime of the loan? b. How much interest will save if you add an additional $150 to your monthly payment